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As of October 28, 2004 there is a new law that changes the way your deposited checks are handled. Prior to this law, most checks were physically transported before clearing. The Check Clearing for the 21st Century Act (known as Check 21) creates negotiable substitute checks that can be used in the same way you would use the original checks. Some of the benefits of the Check 21 law include less paper, increased security, decreased fraud, and faster check clearing. For more information on Check 21, please.

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About Scan

SCAN is an acronym for the Shared Check Authorization Network, which is the most advanced, up-to-date database of bad check writers in the nation. Comprised of data from the nation's largest retailers (such as Kmart and Wal-Mart), SCAN enables you to decide whether or not to accept a customer's check at point-of-sale. If you are part of the SCAN network, you have access to the largest database of known bad check writers in existence – over 10 million unique records from 71,000 locations across the country.

SCAN was developed in 1985 to help retailers combat the problem of bad check writers by sharing information. Since then, it has become the largest check verification network (by dollar volume and transaction volume) in the nation. In 2002, SCAN authorized 3.5 billion checks worth over $200 billion. That is more than twice as much as their nearest competitor.
Here are just a few important facts about SCAN:
  • 71,000+ retail outlets access SCAN
  • 150,000+ updates to SCAN are processed each day
  • Over $200 billion in checks are verified by SCAN each year
  • 400+ national retail store chains contribute check data to SCAN each day
  • 10 million+ unique records are in the SCAN checking account database
  • $444 million in checks are verified by SCAN each day
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